Outlook Price moved to a high of $7.35 and closed at $7.29 last Friday. This was higher than a recent range which dated back to early July 2020. This could be a sign of a resumption of a bullish trend after price broke above the cloud 1 week ago. It also moved above a recent high creating a V-shaped price structure breakout which has a price projection target of $ 8.35. This is close to the high of $8.54 which was created on 8 June 2020. Conversion line and Base line had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and is above the cloud at the moment, confirming the bullish trend. . MACD is bullish and is moving higher, confirming the bullish trend.
Outlook Price broke above the cloud on 24 April 2020 and has stayed above the cloud since the breakout. Price rose to a high of $0.815 on 10 June. Since that high, a price correction brought price down to $0.735. After that low, price has moved sideways, reaching a high of $0.795 yesterday. Price is currently near to the upper edge of the cloud, maintaining the bullish trend and the cloud is getting thicker over the next 1-2 week. This is a sign of a strong support and we think price is unlikely to move below the cloud given the thick cloud. Conversion and Base lines had a bullish crossover yesterday, confirming the bullish trend. Lagging Span is above price of 26 days ago and is above the cloud at the moment, confirming the bullish trend. MACD is bullish and its fast line could be turning around the zero line, hinting that the price correction could be about to end. Both of MACD lines are above the zero line as well. We expect price to move higher to test the previous high at $0.815 and later to break above this resistance.
Outlook Price broke above the cloud on the 28 May and reached a high of $1.650 on 3 June 2020. Since this high, price has been declining and twice, during the price correction, price was supported at $1.410, forming a possible double bottom at that price. These bottoms are also above the cloud, keeping the bullish trend intact. Price could also be supported at the edge of the cloud as well. Conversion line and Base line are both above the cloud but both lines had a bearish crossover recently. This shows that the price correction is still ongoing and both Base and Conversion lines are likely to provide resistance, which price will need to overcome, if it is to move higher. MACD is bullish and consolidating above the zero line and its fast line could be about to turn up from the zero line, hinting of a price rally ahead. MACD could also see a bullish crossover as well if price can move higher in the next couple of days. We think price can move higher to test the previous high of $1.63.
Outlook Price declined to a low of $0.51 on 19 March 2020 and has recovered to a high of $0.78 on 17 April. For 3 days, price tried to move above the cloud but was unable to do so. If price is unable to move above the cloud, it is likely to move lower. The cloud is getting thicker, going forward and it will be harder for price to break though. Price has closed below the Conversion line although it is still above the Base line. Lagging Span is hinting of a bearish trend as it is below price of 26 days ago as well as below the cloud. If price is unable to move above the cloud, it is likely to test the Fibonacci 50% correction point of the rally at $0.650. MACD is starting to turn down and the bullish trend of MACD may be short-lived.
Outlook Price has been below the cloud since 5 March 2020 when it tried to move above the cloud without success. Price reached a low on 3 April at $1.49. There was a price recovery but this recovery has been capped by both the Conversion and Base lines. Both Conversion and Base lines have a bearish crossover as well, hinting of a start of a bearish trend which could bring price lower to $1.50. Lagging Span confirms the bearish trend with its line below price of 26 periods ago and also below the cloud. Price has closed a gap that opened up on 17 April as well. MACD is bearish with both its line below the zero line.
Price gapped down on 28th
of Jan 2020 and until today has yet to close the gap. The gap is from $0.90
down to $0.885. For the past few days, price was capped at the $0.89 high. As
long as price failed to close this gap and move above $0.90, the trend for this
stock is down. Price is also below the cloud which is a bearish trend.
Conversion and Base lines have a bearish crossover confirming the bearish trend
as well. Base line is at $0.895 and this is the current immediate resistance
point. Lagging Span is below price of 26 periods ago and also below the cloud,
again confirming the bearish trend. MACD may have a bullish crossover but MACD
is still bearish. Both of MACD’s lines are below the zero line. Both MACD lines are also far from the zero
line, which is a hint of a strong bearish trend.
Price closed above the cloud 2 days ago. Yesterday, the
full price candle was above the cloud. This is a sign of a strong bullish
trend. There is an immediate resistance at the moment at $0.58. If price is
able to move above this resistance, the breakout would enhance the strength of
the trend. The breakout also gives a price target of $0.670 based on the
Ichimoku V price structure. Conversion and Base lines have a bullish crossover,
which confirmed the bullish trend. MACD has just turned bullish with the slow
line crossing over the zero line. Both lines of MACD’s are rising as well,
which is a sign of a strong bullish trend.
Price reached a high of HK352.80, which is the Fibonacci 127% of the previous rally from 251.10 to 328.20. This could mark the end of the corrective rally from the low of HK251.10. Price also failed to move above the Fibonacci 62% of the previous decline from HK430.70 to HK251.10. There were divergence warnings from MACD, hinting of a possible price top. There was a price gap which price failed to fill as well. Price was unable to move above gap resistance at HK354.70. Failure to close the gap means the bearish trend has not changed. We think the corrective rally could be over and price could be about to turn down to HK330 again
Price may have reached a high at $1.12. It has touched this price on 4 occasions but did not manage to one close at this price. There is a resistance just above at $1.13 as well. MACD showed a bearish divergence, warning of a possible price high. Price was also capped by the Bollinger Band’s upper band. The Bollinger Band is also narrowing, which is a sign of lower volatility. This is a sign of price reaching a high and starting to consolidate. This adds weight to the theory that price has reached a high.
